Are you a business owner? If yes, then you would want to rapid your business to generate potential value. Isn’t it? One such business is Digital Marketing. It plays a vital role in getting businesses to achieve their goals in aspects of brand visibility, lead generation, and client retention. In fewer words, it helps businesses of any scale to reach their target audience in a wide vast digital space.
However, like any other typical business, competition is on a roll in digital marketing too. This means that an agency needs to adjust its service prices most competitively to fetch the customer’s gaze. In this particular blog, we shall put a light on how much you should be willing to pay for digital marketing services for your business. Let’s start reviewing it in detail.
What is Digital Marketing and Its Benefits For Your Business?
Digital Marketing is a fierce option to exponentially grow your business from trash to high through online marketing and advertising strategies. Internet, mobile devices, search engines, social media, and more are some of the key components leading to effective digital marketing for your business. Since evolution and technological advancement is the key to life, businesses should also walk parallelly to run forward. And, digital marketing is one aspect that you must run along.
Before moving any further, let us witness some of the benefits of digital marketing for your business:
- It is the most powerful, measurable, specific, and attainable form of marketing.
- You can effectively target your audiences using digital marketing.
- It will be easier for you to understand the buyer’s journey and buyer’s persona online.
- With most people on social media, you can reach them via digital marketing methods.
- It is considered to be the most economical way to market your business.
- You can reach out and connect to mobile customers.
What are the Typical Costs of Digital Marketing?
Lesser-known, the typical digital marketing cost for business varies from $35,000 to $145,000 per year. On an hourly basis, you might have to pay $90 to $250 whereas every month, you might have to spend $3,500 to $10,000. If we talk about costing based on individual projects, you may have to spend $4,500 to $7,000.
When it comes to budgeting, price comparison is the most crucial factor. You must choose a digital marketing company that offers you a reasonable price. If you opt for a low-quality agency, they will only fulfil your purpose, which may or may not be what you wanted for your business. Thus, go for a digital marketing agency that has invested a bit more in their company to stand out from the rest.
Let us now move on to some of the most populous digital marketing services and their pricing in the below section.
- Pay Per Click- Pay Per Click Advertisement encompasses many strings attached to it, most of which are derived from Google Ads. Some of the most prominent PPC options include search ads, local search ads, pre-roll ads, remarketing, retargeting, social PPC ads, and display networks. For a digital marketing agency, it will cost a minimum cost of $500. Keywords are also a major part of a PPC strategy, its range can vary between $0.05 to $60. On major search engines like Google, the average cost per click for a keyword is $2 to $3.
- Organic Search Engine Optimization- This process helps in ranking your website higher by optimizing website copy and HTML. This allows your target audience to find you as quickly as possible. According to the latest data, SEO can range between $1,950 to $5,000 per month. SEO consultants can charge $90 to $200 on an hourly basis whereas a complete project may cost $5,000 to $30,000.
- Content Creation- Content creation is the most important tool while planning a digital marketing strategy. According to the latest survey, 84% of people expect brands to create content. Since there are so many factors that play a role in content creation, it can cost anywhere between $150 to $3,000.
- Social Media Advertising- As the name suggests, it is a way in which social media channels are used to advertise your business online. Things like Facebook retargeting, Twitter, Linkedin, and more are included in the social media advertising process. For a digital marketing company, it costs between $25 to $350. For a monthly cost, it ranges between $600 to $10,500.
- Email Marketing- Email marketing is a more personalized form of digital marketing. Emails with captivating personalized lines are 26% more likely to be opened by a user. In general, the service cost for email marketing is around $350 to $5,000. You can also have the option to pay per email that costs around $0.10 to $0.50.
- Link Building- Link building involves getting other websites to link back to your site. This is the most important tactic that is mostly used in SEO. The link building costs anywhere between $300 to $20,000 per month. A link outright is another option for link building that costs $400 on average. For a person who is building links for your website, he/she may cost around $50 per hour.
- Video Marketing- More than 80 % of the people are more attracted to video as compared to any other tool. It is known to be the most cost-effective way as videos can be made on mobile phones easily. In-house solutions cost less than $5,000. An outsourcing video production can range in between $1,200 to $48,000. This will cost more if you’re focusing on more premium-based video quality for your business. You can choose anyone between in-house and outsourcing depending on what objectives you have for your business.
In the end, it won’t be wrong to say that a well-planned and reasonably priced digital marketing strategy can revamp your business to an unbelievable extent. We understand that choosing the right digital marketing agency with the best pricing models can be quite overwhelming. But, a little effort and your will to boost your business’s growth can direct you towards the right choice.